Article Highlights: Who Is Subject to The Kiddie Tax Exceptions Kiddie Tax Rules Strategy Where the Child Has Earned Income Parents Election to Include Child’s Unearned Income on Their Return Strategy To Avoid Kiddie Tax The Kiddie Tax was introduced in 1986 to prevent high-income parents from shifting their investment income to their children, who typically fall into lower tax brackets. While the term [...]
Article Highlights: Annual Gift Tax Exemption Gift Splitting Lifetime Estate Tax Exemption Education Exception Medical Exception Qualified Tuition Plan Contributions Spouse’s Unused Estate Tax Exclusion States With Estate Taxes Why Should You Be Concerned? Gift & Estate Tax Rates Gift and estate taxes are both part of the federal transfer tax system and are interconnected. Gift tax applies to transfers of wealth during a [...]
As a taxpayer and business owner, you may be considering converting your personal vehicle to business use. This decision can offer significant tax and financial advantages, but it's crucial to understand the process and legal implications. Here's a step-by-step guide to help you navigate this transition. Step 1: Understand the Benefits Converting a personal vehicle to business use can provide several financial benefits. These [...]
Want to hear about financial news, tips and about our special events? Subscribe to our monthly newsletter and we promise not to spam you!
37 S. Wenatchee Avenue, Suite F#315
Wenatchee, WA 98801
107 N Emerson St . Suite 1
Chelan, WA 98816
Monday – Thursday 9am – 5pm
Main (509) 494-8500
Fax (509) 436-0025
Tricia@august-edge.com
